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Related Parties | 12 Months Ended
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Mar. 31, 2022
Disclosure Of Related Party [Abstract] |
Related Parties |
3 8) | RELATED PARTIES
Related parties and nature of related party relationships:
Nature of relationship |  | Name of related parties
Key management personnel |  | Deep Kalra
Key management personnel |  | Rajesh Magow
Key management personnel |  | Mohit Kabra
Key management personnel |  | Aditya Tim Guleri
Key management personnel |  | James Jianzhang Liang#
Key management personnel |  | Paul Laurence Halpin#^
Key management personnel |  | Jane Jie Sun# (from August 30, 2019)
Key management personnel |  | Cindy Xiaofan Wang# (from August 30, 2019)
Key management personnel |  | Xing Xiong# (from August 30, 2019)
Key management personnel |  | Xiangrong Li (from September 6, 2019)
Key management personnel |  | Vivek Narayan Gour (upto September 6, 2019)
Key management personnel |  | Patrick Luke Kolek* (upto August 30, 2019)
Key management personnel |  | Charles St Leger Searle* (upto August 30, 2019)
Key management personnel |  | Aileen O’Toole* (upto August 30, 2019)
Entity providing key management personnel services |  | IQ EQ Corporate Services (Mauritius) Limited
Entities having significant influence over the Company and its subsidiaries |  | Naspers Limited and its subsidiaries (upto August 30, 2019)
Entities having significant influence over the Company and its subsidiaries |  | Trip.com Group Limited and its subsidiaries (from August 30, 2019)
Equity-accounted investee |  | Simplotel Technologies Private Limited
Equity-accounted investee |  | Saaranya Hospitality Technologies Private Limited
Equity-accounted investee |  | Pasajebus SpA (from May 7, 2019)
Equity-accounted investee |  | Inspirock, Inc. (upto October 19, 2021)
Equity-accounted investee and its subsidiaries |  | HolidayIQ Pte. Ltd and its subsidiaries (upto January 10, 2020)
Notes: # | nominees of Trip.com Group, Limited (Trip.com)
| ^ | Paul Laurence Halpin, who was formerly a nominee of MIH Internet SEA Pte. Ltd (MIH) (subsidiary of Naspers Limited), continues to serve on the board of directors of the Group as a nominee of Trip.com with effect from August 30, 2019.
*nominees of MIH (A) Transactions with key management personnel: Key management personnel compensation comprised**:
|  | For the year ended March 31 |
Particulars |  | 2020 |  |  | 2021 |  |  | 2022 |
Short-term employee benefits |  |  | 2,287 |  |  |  | 1,961 |  |  |  | 2,351 |
Contribution to defined contribution plan |  |  | 184 |  |  |  | 21 |  |  |  | 30 |
Share based payment |  |  | 19,804 |  |  |  | 16,767 |  |  |  | 16,930 |
Legal and professional |  |  | 77 |  |  |  | 38 |  |  |  | 84 |
Total |  |  | 22,352 |  |  |  | 18,787 |  |  |  | 19,395 |
Note: ** | Cost related to defined benefit liability and liability for compensated absences has not been considered, since the provisions are based on actuarial valuations for the Group’s entities as a whole.
|  | As at March 31 |
Balance Outstanding |  | 2021 |  |  | 2022 |
Employee related payables |  |  | 1,207 |  |  |  | 746 |
Accrued expenses |  |  | 34 |  |  |  | 75 |
| (B) | Transactions with entity providing key management personnel services:
|  | For the year ended March 31 |
Transactions |  | 2020 |  |  | 2021 |  |  | 2022 |
Key management personnel services |  |  | 4 |  |  |  | 5 |  |  |  | 7 |
Consultancy services |  |  | 28 |  |  |  | 13 |  |  |  | 16 |
| (C) | Transactions with entity having significant influence over the Company and its subsidiaries:
a)Naspers Limited and its subsidiaries The Company collects payment from end customers through subsidiaries of Naspers Limited which are online payment service providers. In this arrangement, payment of Nil (March 31, 2021: Nil and March 31, 2020:USD 402,242) was collected by these entities on behalf of the Company and such amounts were remitted to the Company within a predefined time period. Further, service fee of Nil (March 31, 2021: Nil and March 31, 2020: USD 5,070) was charged by these entities for rendering these services to the Company, which is recognised under payment gateway charges (refer note 14).
| b) | Trip.com and its subsidiaries
|  | For the year ended March 31 |
Transactions |  | 2020 |  |  | 2021 |  |  | 2022 |
Sale (refund) of air ticketing^ |  |  | 1,241 |  |  |  | (14 | ) |  |  | 211 |
Purchase (refund) of air ticketing^ |  |  | 21,610 |  |  |  | (659 | ) |  |  | 475 |
Sale of hotels and packages^ |  |  | 7,734 |  |  |  | 425 |  |  |  | 1,204 |
Purchase of hotels and packages^ |  |  | 6,451 |  |  |  | 647 |  |  |  | 3,015 |
Commission received |  |  | 190 |  |  |  | 11 |  |  |  | 23 |
Commission paid |  |  | 1,087 |  |  |  | 61 |  |  |  | 149 |
Other operating expenses |  |  | 1,556 |  |  |  | 284 |  |  |  | 306 |
Advance given |  |  | — |  |  |  | — |  |  |  | 1,074 |
Advance given received back |  |  | — |  |  |  | — |  |  |  | 1,074 |
| ^ | represents gross amount booked/charged for the air ticketing and hotels and packages transactions
|  | As at March 31 |
Balance Outstanding |  | 2021 |  |  | 2022 |
Trade and other receivables |  |  | 62 |  |  |  | 345 |
Trade payables |  |  | 489 |  |  |  | 373 |
Advance to vendor |  |  | — |  |  |  | 21 |
| (D) | Transactions with equity-accounted investees and its subsidiaries:
| a) | Saaranya Hospitality Technologies Private Limited
|  | For the year ended March 31 |
Transactions |  | 2020 |  |  | 2021 |  |  | 2022 |
Loan given |  |  | — |  |  |  | 55 |  |  |  | — |
Interest income |  |  | — |  |  |  | 3 |  |  |  | 3 |
|  | As at March 31 |
Balance Outstanding |  | 2021 |  |  | 2022 |
Loan outstanding |  |  | 55 |  |  |  | 53 |
Interest accrued |  |  | — |  |  | * |
* less than 1
| b) | PasajeBus SpA
In May 2019, the Group has acquired approximately 20.5% equity stake in PasajeBus Spa, by exercising its right which was acquired as a part of business combination.
|  | For the year ended March 31 |
Transactions |  | 2020 |  |  | 2021 |  |  | 2022 |
Ancillary revenue |  |  | 110 |  |  |  | 81 |  |  |  | 114 |
|  | As at March 31 |
Balance Outstanding |  | 2021 |  |  | 2022 |
Trade receivables |  |  | 22 |  |  |  | 19 |
c) Inspirock, Inc. In April 2015, the Company had acquired approximately 20.6% ownership interest at a cost of USD 1,945 in Inspirock, which owned and operated www.inspirock.com, an online planning tool for completely customizable itineraries. The investment had been classified as investment in equity-accounted investee in the financial statements. In October 2021, Inspirock, with the requisite consent of its shareholders (including the Company), was acquired by Klarna Holding Plc. As a result of this transaction, the Company has received a net consideration of USD 3,865 (net of expenses: USD 24), partly in form of cash of USD 453 (including amount of USD 117 held in escrow account, refer note 24) and USD 3,412 in form of equity shares of Klarna Holding Plc, in lieu of its shareholding in Inspirock. As a result, Inspirock has ceased to be an associate of the Company and accordingly, the equity method accounting has been discontinued and the investment in Klarna Holding Plc, is now being carried and accounted for as an equity investment at FVTPL under IFRS 9 ‘Financial Instruments’. The Company has recognised a gain of USD 2,251 in the statement of profit or loss and other comprehensive income, on account of discontinuation of equity method of accounting on disposal of this investment. The carrying amount of this equity accounted investee as on the date of transaction was USD 1,638.
| d) | HolidayIQ Pte. Ltd and its subsidiaries
|  | For the year ended March 31 |
Transactions |  | 2020 |  |  | 2021 |  |  | 2022 |
Revenue from air ticketing |  |  | 6 |  |  |  | — |  |  |  | — |
Services received |  |  | 11 |  |  |  | — |  |  |  | — |
During the year ended March 31, 2020, the Group has sold its entire stake in HolidayIQ Pte. Ltd for total consideration of USD 700.
| (E) | Terms & conditions
All outstanding balances with these related parties are to be settled in cash. None of the balances is secured. No expense has been recognised in the current year or prior year for bad or doubtful debts in respect of amounts owed by related parties.

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